WESPAC Advisors LLC Reduces Stake in Equinix, Inc. (NASDAQ:EQIX)

WESPAC Advisors LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 966 shares of the financial services provider’s stock after selling 117 shares during the period. WESPAC Advisors LLC’s holdings in Equinix were worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after buying an additional 1,716 shares during the last quarter. Brookfield Corp ON boosted its position in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares during the last quarter. Empowered Funds LLC boosted its position in Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. Thematics Asset Management boosted its position in Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after buying an additional 6,000 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Equinix by 46.1% in the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock valued at $278,712,000 after buying an additional 92,975 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 2.2 %

NASDAQ EQIX opened at $919.68 on Friday. The business has a fifty day moving average price of $931.27 and a 200 day moving average price of $901.85. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $89.51 billion, a P/E ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio is currently 219.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Truist Financial upped their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Barclays upped their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $994.82.

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the sale, the insider now owns 1,015 shares of the company’s stock, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,741 shares of company stock valued at $21,988,532. 0.27% of the stock is owned by insiders.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.